ITG Inc. (NASDAQ:ITG) Sees Large Increase in Short Interest

ITG Inc. (NASDAQ:ITG) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 295,976 shares, a growth of 52.7% from the July 30th total of 193,798 shares. Based on an average trading volume of 165,648 shares, the short-interest ratio is currently 1.8 days. Currently, 0.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. KeyCorp assumed coverage on ITG in a research report on Monday, July 27th. They set an “overweight” rating and a $17.00 target price on the stock. Bank of America began coverage on shares of ITG in a report on Monday, July 27th. They issued a “buy” rating and a $16.00 target price for the company. Truist Financial increased their price target on shares of ITG from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Stifel Nicolaus initiated coverage on shares of ITG in a research report on Monday, July 27th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Vertical Research began coverage on shares of ITG in a research note on Monday, July 27th. They set a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $17.56.

ITG Price Performance

ITG stock opened at $12.88 on Thursday. The company has a 50-day simple moving average of $12.83. ITG has a one year low of $10.37 and a one year high of $19.26.

ITG (NASDAQ:ITG) last issued its quarterly earnings results on Monday, June 22nd. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $333.92 million during the quarter. As a group, equities analysts predict that ITG will post 0.54 earnings per share for the current year.

About ITG

ITG, Inc was a financial services company best known for its institutional brokerage and trading services. The firm provided execution, electronic trading, and related brokerage solutions designed to help asset managers and other institutional investors trade securities more efficiently.

The company also offered portfolio trading, agency trading, and workflow tools that supported the investment process from order generation through execution. Over time, ITG developed technology-enabled services aimed at improving trading performance, transparency, and access to liquidity across equity markets.

ITG served institutional clients in the United States and other major financial markets.